GameStop shares to be purchased by Tron’s founder

Justin Sun to purchase GME shares worth a million-dollar
  • Justin Sun promised to purchase the GameStop shares on Thursday
  • Due to the suspension of GameStop shares trade, Justin was unable to buy the shares at the promised time
  • The Tron founder thinks that he should invest $10 million instead of $1 million to squeeze the hedge funds
  • The move of Sun is a great one for the TRON tokens

GameStop, a video game retailer firm’s price is soaring tremendously in recent weeks, and now the frenzy is spreading to Asia. Following the surge, Justin Sun, the founder of Tron, have planned to join the Wall Street Bets crew. In a tweet on Thursday, Sun revealed that he would be buying $1 million fading GameStop share from Asia when the market opens. Sun also highlighted that over 4 billion Asian communities and 20 million Tron communities are now with the WSB community.

Justin Sun joined the cause with WSB for GameStop

Justin Sun’s move came as GameStop hogged headlines around the finance market after the Reddit community unleashed the firm’s capital. In the tweet, Sun has also included a Reddit post by the WSB forum. In the post, the individuals are calling European and Asian’s to join the war. According to the post, the European and Asian’s entry can help the community enter the next day with fire in their hearts. The main motive of the community is to save the dying gaming retailer firm.

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The WallStreetBets community has taken the hedge funds world to its knees, expressly Melvin Capital. The organisations have managed to take the stock from its $4 price to more than $513. Indeed, Sun now desires to get in the race where the users are winning tremendous rewards.

Did Tron founder keep his promise of purchasing the shares?

Justin Sun promised to buy the shares, and the WSB community is also thrilled to see that. There are concerns whether Justin honestly purchased the claims or not. Unfortunately, as Sun had plans to buy the shares as the market would open, he faced some obstacles. As the market opened, it was found that Sun’s choice of stockbrokers suspended the trade of GameStop shares. For a reason, he tweeted and revealed that he could not buy the stocks at the promised time. Later on, it was also observed that Robinhood also suspended the GME and AMC. Following the fact, Sun again tweeted revealing it is clear why the DeFi sector is better. However, later on, it was observed that the solution was found after Steemit and DLive announced that they would serve as alternative platforms for investors.

A million is not enough to fight for the cause

After Sun’s purchase of $1 million worth GME shares, the subreddits of WallStreetBets are enjoying, as Sun has their back. Later on, Sun again revealed that he would be buying $10 million GameStop shares in a tweet. According to Sun, $1 million of purchase is not enough to squeeze out such greedy hedge funds. The Tron founder also highlighted that it is now time to unite and fight against the hedge funds. He again has promised to buy the shares as soon as the market opens.

Sun’s Bet on GME seems to bring TRON in the limelight

It is clear that the war of subreddits against hedge funds is favouring Bitcoin and other Altcoins like DOGE tokens. Where Bitcoin and other altcoins are gaining bullish momentum, TRON (TRX) is observed declining. Sun has been observed attempting several tries to revive TRX, which did help the prices of TRX but for the short term. Following the facts, the recent move to join WallStreetBets seems a great move by Sun. However, this also appears to revive the price of TRX in the short term, but it is still sceptical whether the token will gain such bullish momentum in the longer time frame. On the other hand, observing Ethereum and DeFi breaking new all-time highs, it seems quite impossible for the token to a spike in more extended time frames.

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Ahtesham Anis
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.

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